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GKN has sought to bolster its defences against a hostile takeover by Melrose with new figures suggesting its business is poised to accelerate as part of the electric car revolution.

The FTSE 100 engineer yesterday revealed raised forecasts for its electric driveline division, which makes parts for BMW and Volvo as well as Chinese brands. The business is now expected to generate sales of £275m in 2020, up from a prior forecast of £200m and last year’s figure of £33m.

Phil Swash, the chief executive of GKN Driveline, said the forecast underscored that the company is “well positioned to capitalise on the strong market growth in hybrid and electric vehicles”, with a £2bn order book.